Chris Arnoldhttp://wuis.org
enWhite House Move To Protect Nest Eggs Sparks Hopes And Fearshttp://wuis.org/post/white-house-move-protect-nest-eggs-sparks-hopes-and-fears
The Obama administration is creating new protections for Americans saving and investing for retirement, but industry groups say the new rules could hurt the very people the president says he wants to help.<p>If you're building a retirement nest egg, big fees are the dangerous predators looking to feast on it.Fri, 27 Feb 2015 09:08:00 +0000Chris Arnold44199 at http://wuis.orgWhite House Move To Protect Nest Eggs Sparks Hopes And FearsWhite House Moves To Protect Investors From Bad Retirement Advicehttp://wuis.org/post/consumer-protection-proposal
<div class="fullattribution">Copyright 2015 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=White+House+Moves+To+Protect+Investors+From+Bad+Retirement+Advice&utme=8(APIKey)9(MDA5NjA1MTgyMDEzMzk3ODE2ODgwOGQyMQ004)"/></div><p>Transcript <p>STEVE INSKEEP, HOST: <p>Some other news. The White House says President Obama today will move to crack down on parts of Wall Street. It's a proposal to protect Americans from conflicted and bad retirement advice.Mon, 23 Feb 2015 11:17:00 +0000Chris Arnold43847 at http://wuis.orgDespite Recovery, Many Find Home Loans Still Hard To Gethttp://wuis.org/post/despite-recovery-many-find-home-loans-still-hard-get
It's been seven years since the housing crash. The housing market and the economy are both recovering. But housing advocates say you still have to have a near perfect credit score to get a loan from a major bank.<p>At first look, it seems like the trouble in the housing market has quieted down. There are fewer foreclosures. Home prices have stabilized and risen.Tue, 17 Feb 2015 21:07:00 +0000Chris Arnold43394 at http://wuis.orgDespite Recovery, Many Find Home Loans Still Hard To GetRecord Snow Cripples Boston's Subway Systemhttp://wuis.org/post/record-snow-cripples-bostons-subway-system
<div class="fullattribution">Copyright 2015 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Record+Snow+Cripples+Boston%27s+Subway+System&utme=8(APIKey)9(MDAyNDUyNTY4MDEyNDU5NTA0MzAxYzQ4NQ001)"/></div><p>Transcript <p>RENEE MONTAGNE, HOST: <p>The head of the Massachusetts Bay Transportation Authority handed in her resignation yesterday. That resignation is national news because it comes after winter storms dumped a record 72 inches of snow on Boston over 30 days.Thu, 12 Feb 2015 10:09:00 +0000Chris Arnold42923 at http://wuis.orgEconomists Say Millennials Should Consider Careers In Tradeshttp://wuis.org/post/economists-say-millennials-should-consider-careers-trades
<em>This story is part of the</em><em> </em><a href="http://www.npr.org/series/352990765/new-boom">New Boom</a><em> </em><em>series on millennials in America.</em><p>As the economy continues to recover, economists are seeing stark differences between people with high school and college degrees. The unemployment rate is nearly twice as high for Americans with a high school diploma as for those with a four-year college degree or more.<p>But economists say that doesn't mean everybody needs a four-year degree. In fact, millions of good-paying jobs are opening up in the trades.Mon, 02 Feb 2015 23:19:00 +0000Chris Arnold42205 at http://wuis.orgEconomists Say Millennials Should Consider Careers In TradesSenator 'Astounded' That Nonprofit Hospitals Sue Poorest Patientshttp://wuis.org/post/senator-astounded-nonprofit-hospitals-sue-poorest-patients
NPR and ProPublica have been reporting about nonprofit hospitals that seize the wages of lower-income and working-class patients. Now, Sen. Chuck Grassley, the chairman of the Senate Judiciary Committee, says hospitals could be breaking the law by suing these patients and docking their pay. And he wants some answers.<p>NPR and ProPublica looked across six states, and in each, we found nonprofit hospitals suing hundreds of their patients. One hospital in particular jumped out — Heartland Regional Medical Center in St. Joseph, Mo.Thu, 22 Jan 2015 08:34:00 +0000Chris Arnold41418 at http://wuis.orgSenator 'Astounded' That Nonprofit Hospitals Sue Poorest PatientsConsumer Agency Launches Tool To Help You Find A Cheaper Mortgagehttp://wuis.org/post/consumer-agency-launches-tool-help-you-find-cheaper-mortgage
Many Americans love a good deal, shopping around to save $10 or $20 on a pair of pants or winter coats for the kids — but when finding mortgages, <a href="http://files.consumerfinance.gov/f/201501_cfpb_consumers-mortgage-shopping-experience.pdf" target="_blank">nearly half don't even call around to different banks</a>.Tue, 13 Jan 2015 08:32:00 +0000Chris Arnold40631 at http://wuis.orgConsumer Agency Launches Tool To Help You Find A Cheaper MortgageEmployment Is Up. Paychecks, Not So Muchhttp://wuis.org/post/employment-paychecks-not-so-much
The U.S. economy saw the strongest job growth last year since 1999, according to statistics released Friday by the Department of Labor. The country gained another 252,000 jobs in December.<p>That's the good news — but this jobs report also dashed some hopes for fatter paychecks. Employers are hiring more people, but overall, the wages they're paying remain flat.<p>A month ago, it seemed wages were starting to pick up — but those November numbers were revised lower.Sat, 10 Jan 2015 15:33:00 +0000Chris Arnold40482 at http://wuis.orgEmployment Is Up. Paychecks, Not So MuchWhen Nonprofit Hospitals Sue Their Poorest Patientshttp://wuis.org/post/when-hospital-bill-becomes-decade-long-pay-cut
On the eastern edge of St. Joseph, Mo., lies the small city's only hospital, a landmark of modern brick and glass buildings. Everyone in town knows Heartland Regional Medical Center — many residents gave birth to their children here. Many rush here when they get hurt or sick.<p>And there's another reason everyone knows this place: Thousands of people around St. Joseph have been sued by the hospital and had their wages seized to pay for medical bills.Fri, 19 Dec 2014 10:03:00 +0000Chris Arnold39233 at http://wuis.orgWhen Nonprofit Hospitals Sue Their Poorest PatientsMortgage Giants Ease Down Payments For First-Time Homebuyershttp://wuis.org/post/mortgage-giants-ease-down-payments-first-time-homebuyers
A federal directive will go into effect Saturday making it easier for some Americans to come up with a down payment to buy a house.<p>The vast majority of home loans are guaranteed by the government-controlled mortgage giants Fannie Mae and Freddie Mac.Fri, 12 Dec 2014 23:21:00 +0000Chris Arnold38842 at http://wuis.orgMortgage Giants Ease Down Payments For First-Time HomebuyersFor More Local Turkeys To Hit Holiday Tables, You Need An Abattoirhttp://wuis.org/post/more-local-turkeys-hit-holiday-tables-you-need-abattoir
It's a busy time of year for turkey farmers around the country. And these days, with the growth of the local food movement, small family farms are struggling to keep up with all the orders for birds. So, we went to find out what one New England farmer is doing to get her gobblers from the field to the table. Enter the "abattoir."<p>On a recent chilly November morning, I visited Kate Stillman's farm, a 160-acre spread nestled in between some little hilly pastures and some woods. It's a beautiful little place. And it's been a farm here in Hardwick, Mass., since the early 1800s.Tue, 25 Nov 2014 23:32:00 +0000Chris Arnold37803 at http://wuis.orgFor More Local Turkeys To Hit Holiday Tables, You Need An AbattoirFirm Accused Of Illegal Practices That Push Families Into Foreclosurehttp://wuis.org/post/firm-accused-illegal-practices-push-families-foreclosure
The fallout from the housing crisis isn't over.<p>According to Moody's Analytics, there were 700,000 foreclosures last year. And some of those people probably didn't need to lose their homes. Even now, more than six years after the housing crash, lawyers for homeowners say mortgage companies are still making mistakes and foreclosing on homes when they shouldn't be.<p>Ocwen Financial Corp. is facing an investigation by regulators and a new lawsuit over its treatment of homeowners facing foreclosures.Tue, 18 Nov 2014 08:33:00 +0000Chris Arnold37228 at http://wuis.orgFirm Accused Of Illegal Practices That Push Families Into ForeclosureNew 15-Year Mortgage May Open Homeownership Door For More Buyershttp://wuis.org/post/new-15-year-mortgage-may-open-homeownership-door-more-buyers
The 30-year mortgage is the foundation of the real estate market largely because it makes housing more affordable. But the truth is, it's a lousy loan for building actual ownership or equity in your home during the first 5 or 7 years, which caused big trouble when housing crashed.<p>But there's something new that's getting a lot of attention. It's called the <a href="http://www.aei.org/article/economics/a-straight-path-to-wealth-and-debt-free-homeownership/" target="_blank">Wealth Building Home Loan</a> because it helps people own more of their house more quickly.Fri, 03 Oct 2014 21:18:00 +0000Chris Arnold34410 at http://wuis.orgNew 15-Year Mortgage May Open Homeownership Door For More BuyersThe 'Bond King' Leaves His $2 Trillion Kingdomhttp://wuis.org/post/bond-king-leaves-his-2-trillion-kingdom
Heavy drama played out this week — and not just on Shonda Rhimes' TV shows.<p>The bond-investing world was roiled by news that Bill Gross — the man known as "The Bond King" — has abruptly left the huge investment firm he founded in 1971. The departure left a lot of people scratching their heads on Wall Street.<p>"The natural question is: What's going on at PIMCO?" said David Kotok, chief investment officer at Cumberland Advisors.Fri, 26 Sep 2014 21:39:00 +0000Chris Arnold33994 at http://wuis.orgThe 'Bond King' Leaves His $2 Trillion KingdomMany Homeowners Still Qualify For Mortgage Reliefhttp://wuis.org/post/many-homeowners-still-qualify-mortgage-relief
The financial crisis pushed millions of Americans from their homes. And housing advocates complain that the government did more to prop up big banks on Wall Street than it did to help average people on Main Street.<p>But many of those people on Main Street could still qualify for a government program to help them save money by refinancing their mortgages.<p>At a recent town hall event at Ebenezer Baptist Church in Atlanta, former U.S. Rep. Mel Watt laid out the numbers: The Home Affordable Refinance Program, known as HARP, saves people who take advantage of it an average $200 a month.Tue, 26 Aug 2014 07:44:00 +0000Chris Arnold32043 at http://wuis.orgMany Homeowners Still Qualify For Mortgage ReliefShould We Kill The $100 Bill? http://wuis.org/post/should-we-kill-100-bill
Of all the U.S. currency in the world, nearly 80 percent is in $100 bills. That's about a trillion dollars.<p>Some people want to get rid of the bill altogether.Thu, 14 Aug 2014 21:58:00 +0000Chris Arnold31373 at http://wuis.orgShould We Kill The $100 Bill? Some Public Pension Funds Making Big Bets On Hedge Fundshttp://wuis.org/post/some-public-pension-funds-making-big-bets-hedge-funds
Public pension funds have been doing something new in recent years — investing in hedge funds.<p>Hedge funds are often secretive investment firms led by supposedly supersmart fund managers. Though, sometimes they implode spectacularly — think <a href="http://www.nytimes.com/2008/09/07/business/worldbusiness/07iht-07ltcm.15941880.html?pagewanted=all&_r=0">Long-Term Capital Management</a>.Fri, 01 Aug 2014 20:14:00 +0000Chris Arnold30538 at http://wuis.orgSome Public Pension Funds Making Big Bets On Hedge FundsIn June Jobs Numbers, Signs For Optimismhttp://wuis.org/post/june-jobs-numbers-signs-optimism
Transcript <p>ROBERT SIEGEL, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.<p>MELISSA BLOCK, HOST: <p>And I'm Melissa Block. There are plenty of Fourth of July references being tossed around about the latest economic numbers. Some analysts call the new report early fireworks, others caution hold the fireworks. But overall, the news is positive. The Labor Department says employers added 288,000 new jobs last month - more than expected. The unemployment rate fell to 6.1 percent. And that's the lowest unemployment rate since 2008. The stock market hit an all-time high.Thu, 03 Jul 2014 20:09:00 +0000Chris Arnold28559 at http://wuis.orgHousing Market Fake-Outs Stump Economistshttp://wuis.org/post/housing-market-fake-outs-stump-economists
Many homebuyers have been throwing down cold hard cash for their entire house purchase in recent years. Some are baby-boomers who sold a bigger house and are downsizing. Some are investors.Sun, 29 Jun 2014 16:31:00 +0000Chris Arnold28277 at http://wuis.orgHousing Market Fake-Outs Stump EconomistsSluggish Housing Market A Product Of Millions Of 'Missing Households' http://wuis.org/post/housing-market-sluggish-because-millions-missing-households
A year ago, the housing market looked like it was finally recovering. Sales and prices were picking up. But then home sales fizzled. Currently, they are down about 7 percent from last spring.<p>A big part of why housing remains so stunted is that there are more than 2 million "missing households" in the U.S. That's how economists describe the fact that fewer people are striking out on their own to find places to live.<p>Instead of renting an apartment or buying a home, a large number of Americans in their 20s and early 30s are living with family or tripling up with roommates.Wed, 18 Jun 2014 20:37:00 +0000Chris Arnold27527 at http://wuis.orgSluggish Housing Market A Product Of Millions Of 'Missing Households' Missing In The Housing Recovery: New Houseshttp://wuis.org/post/missing-housing-recovery-new-houses
More than five years after the crash, homebuilding is stuck at half its normal level. That's a big drag on the economy. And things aren't looking much better: A report out Thursday shows homebuilder confidence is <a href="http://www.nahb.org/news_details.aspx?newsID=16817">at its lowest level in a year</a>.<p>This severe slump in single-family home construction has been going on across the country. We haven't seen anything close to this kind of a long-term construction slump since World War II.<p>"This is a completely unprecedented collapse," says Ian Shepherdson, chief U.S.Thu, 15 May 2014 21:37:00 +0000Chris Arnold25227 at http://wuis.orgMissing In The Housing Recovery: New HousesHousing Regulator Has Big Plans In Store For Two Mortgage Titanshttp://wuis.org/post/housing-regulator-has-big-plans-store-two-mortgage-titans
<div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Housing+Regulator+Has+Big+Plans+In+Store+For+Two+Mortgage+Titans&utme=8(APIKey)9(MDAxODMzOTc3MDEzMjAzMzEyMDA3Njc1Nw004)"/></div><p>Transcript <p>AUDIE CORNISH, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.<p>MELISSA BLOCK, HOST: <p>And I'm Melissa Block.<p>A top federal regulator of the U.S.Tue, 13 May 2014 20:05:00 +0000Chris Arnold25048 at http://wuis.orgAmid The Device Hype, This Startup Is Taking Wearables To Hearthttp://wuis.org/post/amid-device-hype-startup-taking-wearables-heart
There's been a lot of talk about <a href="http://www.npr.org/tags/172618814/wearable-devices">wearable devices</a> being the next big thing in the technology world. It's easy for the hype to get ahead of the products, but there's actually some serious innovation going on.<p>"What we're going to see over the next couple years is going to be extremely exciting," says Dan Ledger of Endeavor Partners, which consults with the companies that are inventing wearables. "As the technology improves ...Fri, 02 May 2014 07:41:00 +0000Chris Arnold24251 at http://wuis.orgAmid The Device Hype, This Startup Is Taking Wearables To HeartPutin's Chess Moves In Ukraine: Brilliant Tactics, But Bad Strategy?http://wuis.org/post/putins-chess-moves-ukraine-brilliant-tactics-bad-strategy
The game of chess is a national pastime in Russia. And you might say that Vladimir Putin is playing a high-stakes game of geopolitical chess when it comes to Ukraine.<p>Western leaders are plotting how to counter Putin's latest moves with economic sanctions. So to get some insight into what might come next, we talked to an economist who knows Russia — who is also extremely good at chess.<p><strong>Putin Playing From A Weak Position</strong><p>Kenneth Rogoff is a world-renowned economist and professor at Harvard.Wed, 23 Apr 2014 09:23:00 +0000Chris Arnold23574 at http://wuis.orgPutin's Chess Moves In Ukraine: Brilliant Tactics, But Bad Strategy?How Do Companies Boost 401(k) Enrollment? Make It Automatichttp://wuis.org/post/how-do-companies-boost-401k-enrollment-make-it-automatic
More Americans are saving for retirement through their employers' 401(k) programs. That's because in recent years they've been given a strong nudge — more companies are automatically enrolling workers in retirement savings programs.<p>Some firms are also automatically increasing the amount employees contribute.Mon, 21 Apr 2014 07:42:00 +0000Chris Arnold23421 at http://wuis.orgHow Do Companies Boost 401(k) Enrollment? Make It AutomaticOnlookers Show No Worry Over Market's Week In Tumulthttp://wuis.org/post/onlookers-show-no-worry-over-markets-week-tumult
Transcript <p>MELISSA BLOCK, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.<p>AUDIE CORNISH, HOST: <p>And I'm Audie Cornish. Volatile, that's the kind of week the stock market had. Investors sold off high-flying technology and biotech stocks. Weak bank earnings also added to the sour mix. The NASDAQ is down 8 percent from its peak this year. The S&P 500, it's off 4 percent.Fri, 11 Apr 2014 20:06:00 +0000Chris Arnold22850 at http://wuis.orgOne More Speed Bump For Your Retirement Fund: Basic Human Impulsehttp://wuis.org/post/one-more-speed-bump-your-retirement-fund-basic-human-impulse
Saving for retirement is a challenge facing most Americans. Research shows the challenge is made harder by our basic human impulses. We know we should be saving. But we don't. We consistently make bad financial decisions.<p>One thing that leads us astray is what behavioral economists call "loss aversion." In other words, we hate losing. And that gets in the way of us winning — if winning is making smart financial decisions.<p><strong>How A Smashed Car Is Like A Smashed Nest Egg</strong><p>A few months ago I got rear-ended and my Jeep Cherokee was totaled. It's the first new car I ever bought.Thu, 03 Apr 2014 22:27:00 +0000Chris Arnold22277 at http://wuis.orgOne More Speed Bump For Your Retirement Fund: Basic Human ImpulseHow Russia's Annexation Of Crimea Could Hurt Its Economyhttp://wuis.org/post/how-russias-annexation-crimea-could-hurt-its-economy
Russian President Vladimir Putin's swift move to annex Crimea is seen as a sign of strength by many Russians, and it has boosted Putin's popularity at home. But when it comes to Russia's economy, many analysts think Russia's prospects are looking weaker.<p>In recent days, we've seen Russians rallying in the streets, waving flags and celebrating Putin's move to reclaim Crimea as part of Russia.<p>And before that, Putin has been active on the world stage, hosting the Olympics and standing up for Russia's interests in Syria.Wed, 26 Mar 2014 21:22:00 +0000Chris Arnold21703 at http://wuis.orgHow Russia's Annexation Of Crimea Could Hurt Its EconomyReport: Most Americans Not Putting Enough Away For Retirementhttp://wuis.org/post/report-most-americans-not-putting-enough-away-retirement
The stock market surge has given a lift to many retirement portfolios. But a new report finds that most Americans haven't saved nearly enough for the kind of retirement they expect.Tue, 18 Mar 2014 08:44:00 +0000Chris Arnold21091 at http://wuis.orgSevere Weather Socks The Economy, But Full Impact Is Unclearhttp://wuis.org/post/severe-weather-socks-economy-full-impact-unclear
The economy often absorbs the impact of snowstorms, such as <a href="http://www.npr.org/blogs/thetwo-way/2014/03/03/285171762/what-a-blast-wicked-winter-storm-spreads-across-nation" target="_blank">this week's storm</a>, without much trouble, but this winter the weather is doing more damage than usual.<p>Sal Sambataro, the manager of Il Cortile in Manhattan, says that when the weather is better, people are packed into the family-owned Italian restaurant. On a recent day, though, the temperature is close to 15 degrees and the doorman wears a furry hat.Tue, 04 Mar 2014 22:39:00 +0000Chris Arnold20183 at http://wuis.orgSevere Weather Socks The Economy, But Full Impact Is Unclear